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It is about Canadian Income Tax, all information provided 15 points Margarita Dalvi is a financial analyst employed by a large public company. Her 2020
It is about Canadian Income Tax, all information provided
15 points Margarita Dalvi is a financial analyst employed by a large public company. Her 2020 Net Income For Tax Purposes is $166,189 and her 2020 Taxable income is $156,580. Ms. Dalvi's employer withheld the following amounts from her earnings El Premiums S856 CPP Contributions 2,732 RPP Contributions 6,400 Federal Income Taxes Deducted 29,000 Contributions Registered Charities 4,000 Professional Association Dues 1.200 Ms. Dalvi is 58 years old and married to Jonathan Dalvi who has been legally blind since an automobile accident that occurred several years ago, Jonathan turned 65 years old on December 25, 2019. He has 2020 income from investments only of $9,000. The couple have three children Martha is 15 years old. She has 2020 income from various part time jobs of $11,000 mother and father and has 2020 income from part time jobs of $4,800 Mark is 21 years old and attends university on a full-time basis for 10 months of the year. His tuition fees were $8,500 and paid for by Ms. Dalvi. As he has no income of his own, he has agreed to transfer the maximum tuition amount to his mother. The family's 2020 modical expenses, all of which were paid by Ms. Dalvi, were as follows: Ms. Dalvi And Her Husband Martha Mary Mark $8,200 2,800 12,500 3,500 Required: Calculate the Gross amount of the following Federal non-refundable Tax Credits (do NOT cederal round tax credit rate of 1 for the wing for Tuition amount transferred from a child is: 1 Amounts transferred from spouse or common-law partner: Age amount is: 2 Pension income amount is Disability amount is: 4 Medical expenses for self, spouse or common-law partner, and your dependent children born in 2003 or later AND alowable amount of medical expenses for other dependants 5 Total Federal non-refundablo Tax Credit for Donations and gifts is (apolymo required for at overhead credit: 15 points Margarita Dalvi is a financial analyst employed by a large public company. Her 2020 Net Income For Tax Purposes is $166,189 and her 2020 Taxable income is $156,580. Ms. Dalvi's employer withheld the following amounts from her earnings El Premiums S856 CPP Contributions 2,732 RPP Contributions 6,400 Federal Income Taxes Deducted 29,000 Contributions Registered Charities 4,000 Professional Association Dues 1.200 Ms. Dalvi is 58 years old and married to Jonathan Dalvi who has been legally blind since an automobile accident that occurred several years ago, Jonathan turned 65 years old on December 25, 2019. He has 2020 income from investments only of $9,000. The couple have three children Martha is 15 years old. She has 2020 income from various part time jobs of $11,000 mother and father and has 2020 income from part time jobs of $4,800 Mark is 21 years old and attends university on a full-time basis for 10 months of the year. His tuition fees were $8,500 and paid for by Ms. Dalvi. As he has no income of his own, he has agreed to transfer the maximum tuition amount to his mother. The family's 2020 modical expenses, all of which were paid by Ms. Dalvi, were as follows: Ms. Dalvi And Her Husband Martha Mary Mark $8,200 2,800 12,500 3,500 Required: Calculate the Gross amount of the following Federal non-refundable Tax Credits (do NOT cederal round tax credit rate of 1 for the wing for Tuition amount transferred from a child is: 1 Amounts transferred from spouse or common-law partner: Age amount is: 2 Pension income amount is Disability amount is: 4 Medical expenses for self, spouse or common-law partner, and your dependent children born in 2003 or later AND alowable amount of medical expenses for other dependants 5 Total Federal non-refundablo Tax Credit for Donations and gifts is (apolymo required for at overhead creditStep by Step Solution
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